Traders Flee These 10 Stocks Today

6. Affirm Holdings, Inc. (NASDAQ:AFRM)

Affirm Holdings snapped a three-day winning streak on Thursday, losing 8.49 percent to close at $51.75 apiece, as investor sentiment was dampened by a weak outlook for the rest of the year.

According to Affirm Holdings, Inc. (NASDAQ:AFRM) CEO Max Levchin, its business from 0 percent APR installments generates lower revenues than its other products.

“We continued to lean into 0 percent APR monthly installments, which grew 44 percent year over year, and constituted 13 percent of total GMV, the highest level in the past two years,” Levchin said.

“While the revenue and RLTC (revenue less transaction costs) content in such transactions is marginally lower compared to interest-bearing loans, they attract higher credit quality consumers to Affirm, drive outsized point of sale conversion for merchants, and build our brand equity,” he added.

Looking ahead, Affirm Holdings, Inc. (NASDAQ:AFRM) expects full-year revenues to increase to between $3.163 billion and $3.193 billion, up from its earlier outlook of $3.13 billion to $3.19 billion previously.